New managing director at Bristol property developer
The company behind three major development schemes in Bristol has appointed a new managing director.
Matt Farrell, formerly at Invista, Grosvenor and Trophaeum Asset Management, has joined CEG as managing director, a new role in the company.
He will manage and grow the 150-strong team at the property company, which has a development pipeline of more than £2bn and £800m of assets under management.
CEG has one of the largest office development pipelines in Bristol, offering some 400,000 sq ft in its local portfolio at The Quorum, The Crescent, 1000 Aztec West and EQ – which recently smashed headline rents and was named the South West’s best office development by the British Council of Offices (BCO).
The £17m redevelopment of 1000 Aztec West completed last year, along with the redevelopment of The Crescent and refurbishment of The Quorum, providing a range of the highest quality city centre and out of town workspace in Bristol.
Farrell has extensive asset management, finance and asset repositioning expertise and leaves his managing director position at Trophaeum to join CEG. He said: “CEG has a strong 35-year history of investment and value-add asset management, setting a benchmark for new regional office developments.
“Benefiting from a diverse portfolio, supported by a proactive strategic land team, there are many existing projects to bring to fruition. I’m also excited by the new capital we have to deploy, which comes at an opportunistic time in the market.”
Farrell will work closely with Gerard Versteegh, chairman and founder and Andrew Woods, who co-owns the business.
Gerard Versteegh explained: “Matt shares our vision for CEG and with his new ideas and energy he will pioneer new investment strategies. He will also support the team in progressing many exciting new developments, both within the new build and refurbished office sector we are known for, but also through the growth of our business space and strategic land portfolios.”
The CEG business has a focus on investment management, development and strategic land. Its value-add asset management teams find offices and industrial parks with potential, investing and creating collaborative communities for companies of all shapes and sizes. The circa 5 million sq ft portfolio is home to more than 500 thriving businesses.
Well-known for its award-winning developments, the company has a pipeline of more than 10 million sq ft of business space. Its strategic land team, having secured planning permission for more than 33,000 homes, is one of the largest suppliers of units into the housebuilding industry.
